Sumary of House Hunting in London: A 17th-Century Church Tower With Updates:
- Market OverviewThe British housing market that emerged from the initial pandemic lockdown is the strongest in years, fueled by a stamp duty tax holiday, low interest rates, and a collective reassessment of quality of life, brokers said.
- The company reported this week that the average asking price of properties coming to market reached a record high of 338,447 British pounds ($466,000) 3in June, the fourth consecutive month of record averages.
- “The stamp-duty tax holiday has shaped the market this year more than anything else,” said Tom Bill, head of UK residential research at brokerage Knight Frank.
- Mr. Bill said he expected the exemption to have the greatest impact at the lower end of the market, but even affluent buyers rushed to get deals done in prime central London in June, with Knight Frank recording a record number of transactions.